CODE OF ETHICS

CODE OF CONDUCT AND ETHICAL STANDARDS OF PRA (PEA) OFFICIALS AND EMPLOYEES

It is the declared policy of the State to promote a high standard of ethics in public service. Public officials and employees shall at all
times be accountable to the people and shall discharge their duties with utmost responsibility, integrity, competence, and loyalty,
act with patriotism and justice, lead modest lives, and uphold public interest over personal interest.

Consistent thereto, and pursuant to the provisions of Republic Act No. 6713 (An Act Establishing a Code of Conduct and Ethical
Standards for Public Officials and Employees, To Uphold the Time Honored Principle of Public Office being a Public Trust, Granting
Incentives And Rewards for Exemplary Service, Enumerating Prohibited Acts and Transactions and Providing Penalties for Violations
thereof and For Other Purposes) together with the Civil Service Commission's Rules and Regulations Implementing the same, the
Philippine Reclamation Authority (PRA)/(Public Estates Authority (PEA)), hereby adopts the following Code of Conduct and Ethical
Standards for PRA (PEA) Officials and Employees.

Section 1. Coverage. This Code of Conduct and Ethics shall apply to the Board of Directors, officers and employees of PRA whether
appointed by the President of the Philippines, regular, permanent, temporary, contractual, co-terminous or casual employees.

Section 2. Norms of Conduct. All Board of Directors including the Chairman, officers and employees of PRA (PEA) shall observe the
following as standards of personal conduct in the discharge and execution of official duties:

a. Commitment to Public Interest

o PRA (PEA) officials and employees shall always uphold the public interest over and above their personal interest.
o All PRA (PEA) resources must be used efficiently, effectively and economically to avoid wastage in funds and revenues.

b. Professionalism

o PRA (PEA) officials and employees shall perform and discharge their duties with the highest degree of excellence,
professionalism, intelligence and skill.
o They shall render services to PRA (PEA) with utmost devotion and dedication to duty.
o They shall endeavor to discourage wrong perceptions of their roles as dispensers or peddlers of undue patronage.

c. Justness and sincerity

o PRA (PEA) officials and employees shall remain true to the people at all times.
o They must act with justness and sincerity and shall not discriminate against anyone, especially the poor and the
underprivileged.
o They shall at all times respect the rights of others and shall refrain from doing acts contrary to law, good morals, good
customs, public policy, public order, public safety and public interest.
o They shall not dispense or extend undue favors on account of their office to their relatives whether by consanguinity or
affinity except with respect to appointments of such relatives to positions considered strictly confidential or as members of
their personal staff whose terms are coterminous with theirs.

d. Political neutrality

o PRA (PEA) officials and employees shall provide service to everyone without unfair discrimination and regardless of party
affiliation or preference.

e. Responsiveness to the public

o PRA (PEA) officials and employees shall extend prompt, courteous, and adequate service to the public.

f. Nationalism and patriotism

o PRA (PEA) officials and employees shall at all times be loyal to the Republic and to the Filipino people, promote the use of
locally produced goods, resources and technology and encourage appreciation and pride of our country and people.
 g. Commitment to democracy

o PRA (PEA) officials and employees shall commit themselves to the democratic way of life and values, maintain the principle
of public accountability, and manifest by deeds the supremacy of civilian authority over the military.
o They shall at all times uphold loyalty to the PRA (PEA) as an institution above loyalty to persons.

h. Simple living

o PRA (PEA) officials and employees and their families shall lead modest lives appropriate to their positions and income.
o They shall not indulge in extravagant or ostentatious display of wealth in any form.

Section 3. Duties of PRA Officials and Employees. In the performance of their duties, all PRA (PEA) officials and employees are
under obligation to:

(a) Act promptly on letters and requests. All PRA officials and employees shall, within fifteen (15) working days from receipt thereof,
respond to letters or other communications.

(b) Process documents and papers expeditiously;

(c) Act immediately on the public's personal transactions.

Section 4. System of Incentives and Rewards. A system of annual incentives and rewards as contained in the PRA (PEA's) Program
on Awards and Incentives for Service Excellence (PEA-PRAISE) duly approved by the Civil Service Commission shall be strictly
implemented.

Section 5. Prohibited Acts and Transactions. In addition to acts and omissions of public officials and employees now prescribed in
the Constitution and other existing laws, the following likewise constitute prohibited acts and transactions and are declared unlawful
under R.A. No. 6713:

(a) Financial and material interest

o PRA (PEA) officials and employees shall not, directly or indirectly, have any financial or material interest in any transaction
requiring the approval of PRA (PEA).

(b) Outside employment and other activities related thereto.

o PRA (PEA) officials and employees during their incumbency shall not:

(b.l) Own, control, manage or accept employment as officer, employee, consultant, counsel, broker, agent, trustee or nominee in
any private enterprise regulated, supervised or licensed by PRA (PEA) unless expressly allowed by law;

(b.2) Engage in the private practice of their profession unless authorized by the Constitution or law, provided that such practice will
not conflict or tend to conflict with their official functions; or

(b.3) Recommend any person to any position in a private enterprise which has a regular or pending official transaction with PRA.

These prohibitions shall continue to apply for a period of one (1) year after resignation, retirement or separation from PRA (PEA),
except in the case of (b.2) above, but the professional concerned cannot practice his profession in connection with any matter
before the PRA (PEA), in which case the one-year prohibition shall likewise apply.

(c) Disclosure and/or misuse o f confidential information.

o PRA (PEA) officials and employees shall not use or divulge confidential or classified information officially known to them by
reason of their office and not made available to the public either to further their private interests or give undue
advantage to anyone or to prejudice the public interest.
(d) Solicitation or acceptance of gifts.

o PRA (PEA) officials and employees shall not solicit or accept, directly or indirectly, any gift, gratuity, favor, entertainment,
loan or anything of monetary value from any person in the course of their official duties or in connection with any
operation being regulated by, or any transaction which may be affected by the functions of their office, except the
following which are allowed under existing laws:

(d.l) The acceptance and retention by the PRA (PEA) official or employee of a gift of nominal value tendered and received as
souvenir or mark of courtesy;

(d.2) The acceptance by the PRA (PEA) official or employee of a gift in the nature of a scholarship or fellowship grant or medical
treatment; or

(d.3) The acceptance by the PRA (PEA) official or employee of travel grants or expenses for travel taking place entirely outside the
Philippines (such as allowances, transportation, food, lodging) of more than nominal value if such acceptance is appropriate or
consistent with the interest of the PRA and permitted by the PRA Head of office:

Section 6. Statements and Disclosure. PRA (PEA) officials and employees shall accomplish and submit declaration under oath of
their assets, liabilities, networth and financial and business interests including those of their spouses and unmarried children under
18 years of age living in their households.

Section 7. Divestment and Conflict of Interest. A PRA (PEA) official and employee shall avoid conflicts of interest at all times. When
a conflict of interest arises, he shall resign from his position in any private business enterprise within thirty (30) days from his
assumption of office and/or divest himself of his shareholdings or interest within sixty (60) days from such assumption.

The same rule shall apply where the PRA (PEA) official or employee is a partner in a partnership. The requirement of divestment
shall not apply to those who serve the PRA (PEA) in an honorary capacity nor to laborers and casual or temporary workers.

Section 8. Privacy of Personal Records of PRA (PEA) officers and employees. Strict measures shall be implemented by the PRA (PEA)
to safeguard the privacy and the confidentiality of personal records of all PRA (PEA) officers and employees.

Section 9. Hiring and Promotion. All Appointments, hiring and promotion at PRA (PEA) shall be made only according to merit and
fitness and shall consider among other things the performance, education and training, experience and outstanding
accomplishments, physical characteristics and personality traits and potentials.

Section 10. Penalties. The PRA (PEA) officials and employees who shall violate any prohibited acts enumerated herein shall be
punished in accordance with the penalties, rules and procedures on administrative and/or civil cases of the Civil Service Commission,
or the office of the Ombudsman or the Sandiganbayan, or the Presidential Anti-Graft Commission as the case may be or/and
whenever and wherever applicable.

Section 11. Nothing in this Code of Conduct and Ethical Standards shall be construed to derogate from any law or any regulation
prescribed by any appropriate body or agency of the Government, which provides for more stringent standards for public officials
and employees.

Section 12. Separability. If any provision of this Code or the application of such provision is declared invalid or illegal, the other
provisions hereof or the application of other provisions of this Code shall not be affected by such declaration.

Approved: July 21, 2008

ANDREA D. DOMINGO
General Manager and CEO